India to keep diversified crude oil sourcing; national interest guiding energy policy: Vikram Misri

The foreign secretary also underlined that India does not depend on any single source for its energy needs and does not intend to do so in the future.

• India to maintain diverse crude oil suppliers for energy security
• National interest and fair pricing guide India's energy procurement decisions
• India does not depend on any single source for its energy needs

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India will continue to source crude oil from multiple suppliers and diversify its energy imports to ensure stability, security and fair pricing, with national interest remaining the "guiding factor" in all procurement decisions, Foreign Secretary Vikram Misri stated on Monday.

Responding to questions on whether India would stop buying oil from Russia, Misri said India’s energy policy is driven by "adequate availability, fair pricing, and reliability of supply". "National interests will be the guiding factor for us in our choices for energy procurement," he said at a media briefing in New Delhi.

The foreign secretary also underlined that India does not depend on any single source for its energy needs and does not intend to do so in the future.

Misri’s remarks marked New Delhi’s clearest stance so far amid claims by the U.S. that India had agreed to stop buying Russian oil. The comments came days after President Donald Trump rolled back an additional 25 percent tariff on Indian goods imposed over such purchases.

"We are neither dependent on any single source, nor do we intend to be. It is natural for the mix of sources to vary from time to time, depending on objective market conditions," he announced.

The foreign secretary said India’s foremost priority is safeguarding the interests of domestic consumers by ensuring access to energy at the right price through secure and reliable supplies.

"Our import policy insofar as energy is concerned is therefore driven entirely by these objectives," he said.

Emphasising diversification as a pillar of energy security, Misri added, "Our approach is to maintain multiple sources of supply and diversify them as appropriate to ensure stability. The more diversified we are, the more secure we are."

Trump, while announcing a trade deal with New Delhi last week, claimed that India had agreed to discontinue purchases of Russian oil.

In an executive order, the US rolled back the additional 25 percent tariff imposed in August last year, but said it would monitor whether India resumed Russian oil imports directly or indirectly. The order warned that the tariff could be reimposed if such purchases continued.

Misri said global energy markets have faced significant uncertainty, making stable prices and secure supplies a shared priority for countries worldwide.

"India is not just one of the largest consumers of energy; it also plays an important role as a stabilising factor in global energy markets," he said. He noted that India imports crude oil from dozens of countries and that actual sourcing decisions are taken by oil companies based on market conditions.

"They assess availability, risks, costs, and logistical factors, and make their decisions accordingly. There is a complex matrix of considerations involved," Misri said.

Elaborating on India’s dependence on imports, Misri said the country relies on overseas sources for about 80-85 percent of its oil and gas needs, making it essential to guard against inflationary pressures driven by energy costs. "That is why safeguarding the interests of Indian consumers remains our foremost priority," he said.

India-US ties had come under strain after Trump imposed tariffs of up to 50 percent on Indian goods, including a 25 percent levy linked to India’s purchase of Russian oil. Following talks between Trump and Prime Minister Narendra Modi, the US, earlier this month, announced a reduction of tariffs on Indian goods to 18 percent from 50 percent.